Ownership of expirations

Definition

Who owns the renewal rights to the book, which is a contract question and not a statutory one.

Why It Matters

Expirations are the agency's real asset, the right to renew the policies already on the books, and buyers arrive expecting a statute to settle who holds them. There is no general one. The enacted text that does exist is narrow and scoped to a single state program, so the answer lives in the agency's own agreement with each carrier and nowhere else. Read every carrier agreement for its expirations clause before pricing the book, and remember the appointment underneath it is the carrier's grant to a named licensee: one state requires sixty days of notice before an appointment ends, the termination filed within thirty days, and outstanding contracts left to run to their own expiry.